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In light of the COVID-19 crisis, a Grand Ducal Regulation was published on 25 March 2020 (the Regulation)[1] that suspends certain procedural deadlines applicable in civil and commercial matters during the Luxembourg state of crisis. The Ministry of Justice has clarified that this suspension also relates to insolvency matters.

Fixed and floating charges – why are they important?

They give a lender a higher position in the queue for the net proceeds of a borrower’s assets in the event of a borrower’s insolvency.